Sprache umschalten / Switch language
Whistleblower-System

FMA Focus on Initial Coin Offerings

Jump to: Footer

Financing arrangements conducted through “Initial Coin Offerings” (ICOs) are as a rule constructed in such a way that they are not subject to any form or regulation, and they are also not subject to supervision. Investors and consumers do not enjoy a comparable degree of protection as they would with regulated products or products issued by supervised entities.

Under certain circumstances, an ICO may however constitute a financial service requiring a licence, or may fall within the scope of another supervisory law with regard to investor protection. This must however be checked on a case-by-case basis. Information can be found on the FMA website at: FinTech Navigator

Generally ICOs are always of a highly speculative nature, and accordingly are considered to be risky financial transactions. The material risks associated with investments in an ICO for wholesale investors and consumers are listed.

Further information: